7 Best Brokerage Account Promotions and Bonuses of September 2023
Brokerage firms compete for investor deposits by offering large bonuses and promotions. Here are some of the best brokerage bonuses and promotions right now.
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The competition among brokerage firms is fierce, which spells good news for investors: These companies frequently aim to attract new accounts with generous promotions and bonus offers.
How brokerage bonuses work: Most brokers that offer promotions will do so in exchange for a set deposit amount — the more you're willing to deposit, the greater the promotion available to you. However, there are some brokerage firms that set the bar lower — for example, offering a bonus simply for placing your first trade.
Keep in mind that while most broker bonuses are paid in cash — in the form of a deposit to your newly opened investment account — other brokers pay out untraditional bonuses in the form of stock or even crypto.
Below, we've categorized current brokerage promotions so you can easily find the best options for you. As always, be sure to read the fine print on the brokerage firm's website to ensure you qualify for the offer.
The competition among brokerage firms is fierce, which spells good news for investors: These companies frequently aim to attract new accounts with generous promotions and bonus offers.
How brokerage bonuses work: Most brokers that offer promotions will do so in exchange for a set deposit amount — the more you're willing to deposit, the greater the promotion available to you. However, there are some brokerage firms that set the bar lower — for example, offering a bonus simply for placing your first trade.
Keep in mind that while most broker bonuses are paid in cash — in the form of a deposit to your newly opened investment account — other brokers pay out untraditional bonuses in the form of stock or even crypto.
Below, we've categorized current brokerage promotions so you can easily find the best options for you. As always, be sure to read the fine print on the brokerage firm's website to ensure you qualify for the offer.
Typically, transfers from existing brokerage firms — as well as 401(k) rollovers and IRA transfers — count as a deposit that qualifies for a bonus. But be sure to read the fine print of each offer.
Best Brokerage Account Promotions and Bonuses
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 J.P. Morgan Self-Directed Investing Learn more on J.P. Morgan's website | Best for brokerage cash promotions | $0 per trade | $0 | Get $50 when you open & fund a new account with $5K on Chase.com or the Chase Mobile® app. | Learn more on J.P. Morgan's website |
 Webull Learn more on Webull's website | Best for free stock promotions | $0 per trade | $0 | Get up to 12 free fractional shares (valued up to $3,000) when you open and fund an account with Webull. | Learn more on Webull's website |
 TradeStation Learn more on TradeStation's website | Best for brokerage cash promotions | $0 per trade | $500 | Qualify for up to $5,000 when you open and fund a new TradeStation account. Offer Code: NERDAFJO. | Learn more on TradeStation's website |
 Robinhood Learn more on Robinhood's website | Best for free stock promotions | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn more on Robinhood's website |
 SoFi Active Investing Learn more on SoFi Invest's website | Best for free stock promotions | $0 per trade | $0 | $5 to $1,000 in free stock for users who sign up via mobile app | Learn more on SoFi Invest's website |
 Fidelity Learn more on Fidelity's website | Best for brokerage cash promotions | $0 per trade for online U.S. stocks and ETFs | $0 | Get $100 when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply. | Learn more on Fidelity's website |
 M1 Finance | Best for brokerage cash promotions | $0 | $100 | Get up to $500 in your new Brokerage Account when you sign up and make a deposit within 14 days. Plus, Earn up to $10,000 to invest when you transfer your brokerage account to M1 within 30 days of opening an M1 account. | Read review |
Our pick for
brokerage cash promotions
The below brokerages offer cash bonuses in exchange for your deposit. Some bonuses are tiered, meaning the more money you deposit, the higher the bonus.
$0
per trade
$0
Get $50
when you open & fund a new account with $5K on Chase.com or the Chase Mobile® app.
Pros
Easy-to-use platform.
$0 commissions.
App connects all Chase accounts.
No account minimum.
Cons
Limited tools and research.
Portfolio Builder tool requires $2,500 balance.
Why We Like It
J.P. Morgan Self-Directed Investing is a clear-cut investment platform that is great for beginners looking to learn how to buy and sell investments. More advanced investors, however, may find it lacking in terms of available assets, tools and research. INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
$0
per trade
$500
Qualify for up to $5,000
when you open and fund a new TradeStation account. Offer Code: NERDAFJO.
Pros
High-quality trading platforms.
Comprehensive research.
Commission-free stock, ETF and options trades.
Advanced tools.
Active trader community.
Cons
No transaction-fee-free mutual funds.
Plans and pricing can be confusing.
Why We Like It
TradeStation is a strong choice for active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. Trades of up to 10,000 shares are commission-free.
$0
per trade for online U.S. stocks and ETFs
$0
Get $100
when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.
Pros
Commission-free stock, ETF and options trades.
Large selection of research providers.
Strong customer service.
Expense-ratio-free index funds.
Highly rated mobile app.
Cons
Relatively high broker-assisted trade fee.
Why We Like It
Fidelity offers $0 trading commissions, a selection of more than 3,300 no-transaction-fee mutual funds and top-notch research tools and trading platform. Its zero-fee index funds and strong customer service reputation are just icing on the cake.
Our pick for
free stock promotions
$0
per trade
$0
Get up to 12 free fractional shares (valued up to $3,000)
when you open and fund an account with Webull.
Pros
Low costs.
Easy-to-use platform.
Advanced tools.
Access to cryptocurrency.
Cash management.
Cons
No mutual funds.
Thin educational support.
Why We Like It
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to a few common asset classes.
$0
per trade
$0
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
No account minimum.
Streamlined interface.
Cryptocurrency trading.
Cons
No mutual funds or bonds.
Limited customer support.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. Mutual funds and bonds aren't offered, and only taxable investment accounts are available. Still, if you're looking to limit costs or trade crypto, Robinhood is a solid choice.
$0
per trade
$0
$5 to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock and ETF trades.
Cryptocurrency trading.
Fractional shares available.
$1 account minimum.
Free financial counseling.
Cons
Small selection of tradable securities.
No mutual funds
Why We Like It
SoFi Active Investing's $0 trading commission and $1 account minimum are attractive to new investors, but a lack of investment choices such as mutual funds and bonds is a drawback for those saving for retirement.
Want to compare more options? Here are our other top picks:
More resources for opening a new brokerage account
How to manage multiple brokerage accounts (and why you might want to).
Last updated on September 5, 2023
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
To recap our selections...
NerdWallet's Best Brokerage Account Promotions and Bonuses of September 2023
- J.P. Morgan Self-Directed Investing: Best for brokerage cash promotions
- Webull: Best for free stock promotions
- TradeStation: Best for brokerage cash promotions
- Robinhood: Best for free stock promotions
- SoFi Active Investing: Best for free stock promotions
- Fidelity: Best for brokerage cash promotions
- M1 Finance: Best for brokerage cash promotions
